2020-12-31-accounts - The Parochial Church Council Of The Parish Of Caversham Thameside And Mapledurham

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correspondence a The parish website	ddress for th is www. ctm	e whole parish is Church House, 59 Church Street, arish.or .uk.	e whole parish is Church House, 59 Church Street, arish.or .uk.	e whole parish is Church House, 59 Church Street, arish.or .uk.	e whole parish is Church House, 59 Church Street, arish.or .uk.	e whole parish is Church House, 59 Church Street, arish.or .uk.	Caversham RG
PCC members who	have served	at any time from 1January 2020 until the date of					this report are:
ExOfficio members
Incumbent:		*Revd Mike Smith
Associate Vicar:		*Revd Penny Cuthbert
Associate Priest:		Revd Rachel Ross Smith
Curate:		Revd Andy Storch		ReVd Judith Ryder			(to Sept 2020)
Lay Readers:		Phil Blackburn		Anthony	Wisdom
Churchwardens:		Nigel Smith {toOct 2020)		*Steve Jenkins
		Jeyasingh John Samuel	(from Oct 2020)
		*Ralph Taylor		Bridget Cumming			Bruce
		Richard Purkis (to Oct 2020)		*Sally Harlow		(from Oct 2020)
		DaVid SpenCer (from Oct	2020)
Elected members
Deanery Synod:		Ralph Taylor		Caroline	Smith	(to	Oct 2020)
(from 2020 for 3years)		*Jacquie Kavanagh		Richard	Purkis	(from Oct 2020)
		Peter Stratton
Lay Representatives:
StJohn:				St Peter:
Sally HarlOW (to Oct	2020)	JOanna MOriarty (to Oct	2020)	Mike Jones (to		Oct	2020)
Ann Deane		Anne Taylor		Shirley Scola
Sarah Smith (from Oct 2020)		Matthew Anderton		Richard	Larkin
seonaid Anderson	(from oct zo)	Jane Reason (from oct 2020)		Jonathan	Wheeler		(from oct 20)
Co-opted members	(ifnot already members)
Treasurer:		*Richard Larkin
Secretary:		*Caroline Smith

				2020			2019
			Unrestricted	Restricted	TOTAL	Unrestricted	Restricted	TOTAL
			Funds	Funds	Funds	Funds	Funds	Funds
		Notes
INCOME
Donations and legacies
Income from donations	and legacies	2a	200,032	3,684	203,716	214,884	3,116	218,000
Other voluntary income		2b	9,732	12,536	22,268	16,602	12,819	29,421
Income from investments		2c	14,344	37,341	51,685	31,926	48,743	80,669
Income from other trading activities		2d	15,005	138	15,143	35,137	558	35,695
TOTAL INCOME			239,113	53,699	292,812	298,549	65,236	363,785
EXPENDITURE
Charitable expenditure
Donations and grants		3a	4,482	30,462	34,944	8,748	37,372	46,120
Activities relating to Church work		3b	203,683	4,506	208,189	213,670	23,660	237,330
Church management 5admin		3d	22,216		22,216	32,873		32,873
Costs ofraising funds
Costs of Parish property		3e	13,502	19,597	33,099	12,050	25,394	37,444
Fund-raising and publicity		3c	912		912	4,695		4,695
TOTAL EXPENDITURE			244,795	54,565	299,360	272,036	86,426	358,462
GAINS AND LOSSESON INVESTMENTS
Property Valuations		4a		(25,000)	(25,000)		18,000	18,000
CBFInvestments		4b/4c	2,627	19,620	22,247	4,679	32,343	37,022
			2,627	(5,380)	(2,753)	4,679	50,343	55,022
NET INCOME/(EXPENDITURE)			(3,055)	(6,246)	(9,301)	31,192	29,153	60,345
NET MOVEMENT IN FUNDS			(3,055)	(6,246)	(9,301)	31,192	29,153	60,345
RECONCIUATION OF FUNDS
TOTAL FUNDS BROUGHT FORWARD			244,813	2,314,327	2,559,140	213,621	2,285,174	2,498,795
Rounding
TOTAL FUNDS CARRIED FORWARD			241,760	2,308,081	2,549,841	244,813	2,314,327	2,559,140

			Unrestricted	Restricted	Total	Funds
		Notes	Funds	Funds	2020	2019
			f	f	f	f
INVESTMENTS
Investment	Property	4a		1,755,000	1,755,000	1,780,000
Unit Trusts		4b	28,777	281,155	309,932	287,826
			28,777	2,036,155	2,064,932	2,067,826
CURRENT ASSETS
Debtors and	prepayments	6	28,500	4,910	33,410	30,254
Short term deposits		4c	80,260	205,997	286,257	320,103
Cash at bank	and in hand	4d	141,264	71,019	212,283	183,335
			250,024	281,926	531,950	533,692
CREDITORS:
AMOUNTS FALLING DUE
WITHIN ONE YEAR			(37,041)	(10,000)	(47,041)	(42,378)
NET CURRENT ASSETS			212,983	271,926	484,909	491,314
NET ASSETS			241,760	2,308,081	2,549,841	2,559,140
FUNDS
Unrestricted			241,760		241,760	244,813
Restricted				2,308,081	2,308,081	2,314,327
			241,760	2,308,081	2,549,841	2,559,140

2	INCOME
				Unrestricted	Restricted	Total	Funds
				Funds	Funds	2020	2019
				f	f	f	f
2a.	Income from Donations		and Legacies
	Planned Giving with Gift		Aid	124,198		124,198	120,148
	Income Tax refund			29,412	2,452	31,864	32,834
	Planned Giving -	Non Gift Aid		2,859		2,859	3,285
	Collections (open	plate)	at services	2,057		2,057	8,079
	Sundry donations	&Transfers		31,506	1,232	32,738	51,496
	Legacies			10,000		10,000	2,158
				200,032	3,684	203,716	218,000
2b.	Other voluntary	income
	Fundraising &Appeals			1,264	2,536	3,800	15,092
	Charitable Collections			625		625	6,579
	External Grants (Church		House)	7,843	10,000	17,843	7,750
				9,732	12,536	22,268	29,421
2c.	Income from investments
	Dividends and interest			367	6,927	7,294	8,202
	Rent			13,377	24,395	37,772	58,012
	Church House lettings etc.			600	6,019	6,619	14,455
				14,344	37,341	51,685	80,669
2d.	Income from other Trading Activities
	Church Fete						11,427
	Church Lettings			11,755		11,755	15,104
	Fees			3,250		3,250	8,606
	Other incomings	(St P &St M Bells)			138	138	558
				15,005	138	15,143	35,695
	TOTAL INCOME			239,113	53,699	292,812	363,785

3	EXPENDITURE						Unrestricted	Restricted	TotalFunds	TotalFunds
							Funds	Funds	2020	2019
							E	E	E	E
3a.	Donations
	Missionary and charitable		giving:
	Home						2,626		2,626	4,046
	Overseas						624		624	4,702
	Transfer between unrestricted				to restricted		1,232		1,232		Note 1
	Expenditure withdrawn	from		restricted		funds		15,000	15,000	25,099	Note 2
	Church House Grants							15,462	15,462	12,273	Note 3
							4,482	30,462	34,944	46,120
3b.	Activities directly relating		to	the work
	ofthe Church
	Ministry: Diocesan quota						124,173		124,173	124,173
	Ministry: Diocesan rebate						(6,154)		(6,154)
	Clergy expenses, inc training			&	retreats		4,566		4,566	5,336
	Incumbent's Expenses						2,007		2,007	1,970
	Church running expenses						30,379		30,379	40,050
	Church maintenance						16,770		16,770	10,461
	Fresh Expressions &community				work		323		323	1,730
	Youth Work						20,275		20,275	17,438
	St Peters Re-ordering expenses							4,183	4,183	16,589
	St P &STM bell tower costs							323	323	7,071
	Upkeep ofservices						11,344		11,344	12,512
							203,683	4,506	208,189	237,330
3c.	Fund-raising and publicity						912		912	4,695
3d.	Church management and		administration				22,216		22,216	32,873
3e.	Costs ofParish property						13,502	15,307	28,809	37,444
	Professional Fees							4,290	4,290
							13,502	19,597	33,099	37,444
	TOTAL EXPENDITURE						244,795		299,360	358,462

4	INVESTMENTS	2020	2019
4a.	Freehold Investment Property (Restricted Funds)	E	E
	6Gosbrook Road, Caversham RG4 SBS	180,000	180,000
	The beneficial owners of the freehold land and buildings are the Rector and
	Churchwardens of the parish of Caversham Thameside and Mapledurham. The
	property is vested in the Diocesan Trustees (Oxford) Limited. The value is based on a
	valuation performed by Haslams in November 2019 and is considered to be a fair
	estimate of the current value of the property. The Trust Deed (dated 23 April 1974)
	made under the Incumbents and Churchwardens (Trusts) Measure 1964 states that
	rents and profits shall be applied "to the general funds of the parish church". An
	inspection in June 2019 revealed a number of breaches to the lease, and the parish
	issued an S146 notice requiring these breaches to be rectified. At the time of writing
	we are waiting for a surveyor's report to confirm that the breaches have been resolved.
	Whilst the S146 has been in force we have been returning the rent to the tenant, but
	anticipate receiving the back rent in 2021. The valuation assumes the property
	continues to be let at the rental of f14,000 pa. The use of the underlying capital is
	restricted.
	Church House, 57/59 Church Street, Caversham RG4 SAX	600,000	600,000
	The beneficial owner of the freehold land and buildings is the PCC. The property is
	vested in the Oxford Diocesan Board of Finance. The value is based on a valuation
	performed by Haslams, Chartered Surveyors in January 2018 and is considered to be
	a fair estimate of the current value of the property. Church House is a separate
	Charitable Trust within the PCC. It is held and administered on behalf ofthe PCC upon
	separate Trusts relating only to Church House. It is exempted from registration with
	the Charity Commission. Both Capital and Income are restricted funds and may only be
	applied in accordance with the Trust Deeds. In the event that the property was sold
	the proceeds would be payable to another Parish.
	25 Ilkley Road, Caversham RG4 7BD	550,000	550,000
	The beneficial owner of the freehold land and buildings is the PCC. The property is
	vested in the Diocesan Trustees (Oxford) Limited. The value is based on the valuation
	performed by Walmsley Estate Agency in March 2010and updated in January 2015and
	September 2017.This is considered to be a fair estimate of the current value of the
	property. The property is held as a Curate's residence or ifnot required as such for any
	ecclesiastical purposes in the parish that are charitable. As at December 312020 the
	property is occupied on a 12 month lease at a gross rental off17,940 pa. The use of
	the underlying capital is restricted.
	51Galsworthy Drive, Caversham Park	425,000	450,000
	The beneficial owner of the freehold land and buildings is the PCC. The property is
	vested in the Diocesan Trustees (Oxford) Limited. The house was occupied by the
	Curate and her family unti October 2020. The updated value is based on an S119
	valuation provided by Haslams Surveyors in October 2020 as a basis for selling the
	property on the open market. The property is currently For Sale and a buyer has been
	identified at a price off431,250 less costs
		1,755,000	1,780,000

4a.	Freehold Investment Property	(cnt/d)	(cnt/d)	(cnt/d)	2020	2019	Gain/(Loss)
	(Restricted)				f	E	E
	6Gosbrook Road				180,000	180,000
	Church House				600,000	600,000
	25 Ilkley Road				550,000	550,000
	51Galsworthy Drive				425,000	450,000
					1,755,000	1,780,000
4b.	Investments				Unrestricted		Restricted	2020	2019
					Undesignated	Designated		Total	Total
					f	f		f	f
StPeter's Church
	Balmore Hall Fund						182,829	182,829	171,065	Note 1
	8924shares in CCLA Investment			Fund
	atf20.4873(2019:f19.1691)
StMargaret's Church
	Badger Bequest						2,638	2,638	2,473
	129shares in CCLA Investment		Fund
	at E20.4467 (2019:E19.1691)
	Church FabrIc Fund
	1138.33(2019:1105.24)shares			in		23,321		23,321	21,186	Note 1
	CClA Investment Fund
	at E20.4873(2019:f19.1691)
	Miscellaneous Fund
	266.34shares in CCLA Investment atf20.4873(2019:E19.1691)			Fund	5,456			5,456	5,105	Note 1
Caversham Parochial Fund
	CTM Parish Reserve									Note 2
	0Accumulation shares in CCLA investment atf20.4467 (2019:N/A)				Fund (2019N/A)
Church House
	Haslam Bequest Maintenance	Reserve					56,426	56,426	51,189
	1137.17(2019:1137.17)shares		in
	CClA Investment Fund
	at E49.6199(2019:E45.0145)
	Church House Reserve						39,262	39,262	36,808
	1920.20(2019:1920.02)shares		in
	CClA Investment Fund
	atf20.4467 (2019f19.1691)
	TOTAL IIVVESTMENT VALUE				5,456	23,321	281,155	309,932	287,826
						Unrestricted	Restricted	TOTAL 2020	2019
	Market Value at 1January					26,291	261,535	287,826	167,804
	Income Reinvested
	Gain/(loss) including income reinvested					2,486	19,620	22,106	37,022
	New Church House accounts opened								83,000
	Market Value at 31December					28,777	281,155	309,932	287,826

4c.	Short Term Deposits
				Unrestricted		Restricted	2020	2019
				Undesignated	Designated		Total	Total
				f	f	f	f	f
	St Peter's Church
	CBFDeposit A/c - Legacy Fund				4,001		4,001	13,984
	CBFDeposit A/c - Peter Shock Estate					1,440	1,440	1,434
	Barclays High Interest A/c - St Peter' s					39,490	39,490	35,940
	Church Appea I
	CBFDeposit A/c - Keith Drow	Fund				1,077	1,077	1,072
	CBFDeposit A/c- Balmore Hall					62,396	62,396	71,977
	Fund "Income"
	Barclays High Interest A/c - St.Peter' s			19,912			19,912	19,897
	General Fund
	Bellringers NS& I Investment	A/c				40,584	40,584	40,293
				19,912	4,001	144,987	168,900	184,597
ii.	Church House
	NatWest "Society Reserve A/c"					54,396	54,396	69,341
						54,396	54,396	69,341
iii.	St Margaret's Church
	Barclays Deposit A/c - Tower	Appeal				1232	1232		Note 1
	CBFDeposit A/c - Coker Bequest					500	500	500
	CBFDeposit A/c - Fabric Fund				3,637		3,637	3,622
	CBFDeposit A/c - Miscellaneous		Fund	16,200			16,200	16,200
				16,200	3,637	1,732	21,569	20,322
iv.	Caversham Parochial Fund
	CBFDeposit A/c - Prop Maint	Reserve A/C			21,483		21,483	25,974
	Barclays Deposit A/C			15,027			15,027	15,008
				15,027	21,483		36,510	40,982
vi.	Held for Caversham Group Ministry
	CBFDeposit A/c - Nash Memorial
	Fund- Capital					1,166	1,166	1,166
	Income					3,716	3,716	3,695
						4,882	4,882	4,861
	TOTAL SHORT TERM DEPOSITS			51,139	29,121	205,997	286,257	320,103

					2020	2019
			Unrestricted	Restricted	Total	Total
			E	E	E	E
Caversham	Parochial	Fund	9,860		9,860	19,224
Caversham	Parochial	Fees A/c	7,606		7,606	6,346
Incorporated	in accounts for first time
Church House				61,608	61,608	33,162 Note 2
Fete Account			601		601	561
St Peter's Church			18,417		18,417	23,317
St Margaret's	Church		27,329		27,329	17,899
StJohn's Church			77,451	2,904	80,355	76,134
Bellringers:
StPeter				1,521	1,521	1,729
St Margaret				4,986	4,986	4,963
			141,264	71,019	212,283	183,335

including al	lowance	for	Debtors &Creditors
				Church House *		Bellringers St M &Stp	Other Funds	TOTAL
				f		f	f
Balance brought forward 1January 2020				192,000	243,042	46,986	52,300	534,328
Income
	Rents received			30,414				30,414
	Dividends	and interest		1,157	5,419	290	61	6,927
	Other income			10,000		138	4,988	15,126
Expenditure
	Property			(19,597)				(19,597)
	St P &St M		Bells+ St P Reordering			(323)	(4,183)	(4,506)
Transfers between funds				(15,462)	(15,000)		1232	(29,230)
Gains on investments				7,691	11,764		165	19,620
Balancing							(1)	(1)
Balances carried forward 31December 2019				206,203	245,225	47,091	54,562	553,081
				' Includes Haslam	Bequest Funds
DEBTORS
				2,020	2,020	2,020	2,019
				Unrestricted	Restricted	TOTAL	TOTAL
				f	f	f	f
Income Tax	Recoverable			2,575	399	2,974	9,710
Prepayments	and Accrued Income			25,925	4,511	30,436	20,198
Rent Arrears							346
				28,500	4,910	33,410	30,254
CREDITORS: AMOUNTS			DUE WITHIN ONE YEAR
				2,020	2,020	2,020	2,019
				Unrestricted f	Restricted f	f	f
Accruals and Deferred Income				37,041	6,188	43,229	42,378
Unpresented	Church	House cheques			3,812
				37,041	10,000	43,229	42,378

				2020
		Unrestricted	Restricted	Total
	2020	f		f
Investments		28,777	2,036,155	2,064,932
Current	Assets	250,024	281,926	531,950
Current	liabilities	(37,041)	(10,000)	(47,041)
		241,760	2,308,081	2,549,841
				2019
		Unrestricted	Restricted	Total
	2019	f		f
Investments		26,291	2,041,535	2,067,826
Current	Assets	258,528	275,164	533,692
Current	liabilities	(40,006)	(2,372)	(42,378)
		244,813	2,314,327	2,559,140